Estate tax amnesty extension sought

A PHILIPPINE senator on Wednesday filed a bill seeking to extend the estate tax amnesty until 2028 to give families more time to settle long-pending inheritances.

Senate Bill No. 1488, filed by Senator Jose “Jinggoy” P. Ejercito Estrada, aims to move the deadline to June 14, 2028. In his explanatory note, he said the extension would help heirs formalize property transfers, improve tax compliance and support economic activity. It would also advance “social justice and intergenerational equity,” he said.

The measure allows heirs to file estate tax amnesty returns manually or electronically through authorized banks, Revenue District Offices, collection officers or accredited tax software providers.

Mr. Estrada said many families struggle to process inherited land due to poverty, missing documents, disputes and lack of access to legal aid. He noted that some could not afford a lawyer, while others are unfamiliar with the legal steps.

The Philippines imposes a 6% estate tax on the net value of inherited assets. — Adrian H. Halili